Wait until all these tech companies that aren't profitable have to deal with expensive borrowing costs.
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***Official Real Estate Thread***
- Thread starter One-Off
- Start date
Or when laid off crypto bros have to stop hodling Bitcoin to pay rent.
Oops, wrong thread.
Well, as Keynes said, "The market can stay irrational longer than you can stay solvent."
None of this has to make any sense.
here is latest I could find bot behind a paywall while looking for less than 5mins -
www.nbcsandiego.com
yes, this is 1yr not 3yrs but goes to show the variance across zip codes. Cherry picking a few winners as the example is not really 100% in 3yrs.
San Diego's Hottest ZIP Codes: Does Your Neighborhood Measure Up?
Del Mar saw the biggest spike in San Diego County in CoreLogic’s report comparing February’s year-over-year numbers.
www.nbcsandiego.com
yes, this is 1yr not 3yrs but goes to show the variance across zip codes. Cherry picking a few winners as the example is not really 100% in 3yrs.
I literally just showed you the overall data for Carlsbad and Encinitas that shows a ~100% increase in 3 years. What more do you need to believe it?
I wouldn't call that cherry picking.
no, you didn’t.
Enci SFH -
april 2019 = 1.5M
april 2022 = 2.24M
(all home types are 1.2M to 2M)
Cbad SFH
april 2019 = 1.1M
april 2022 = 1.9M
(all home types 895 to 1.5M)
none of these are “100% in 3yrs”. Yes, this is a REALLY high number in comparison to historical norms but it’s not 100%.
Mine’s now at $1.05M. I remember when a million dollars seemed like an impossible amount of money, now it just sounds like a decent amount.
on this one, I think more realistically the employees spent their stock options via margin loans to get the cash to buy their houses.
i think that’s where a lot of the non-institutional cash purchases came from if not from mom and dad.
how these margin loans work, I honestly have no idea. But I do have a friends freaking out over stock prices dropping and making payments on the interest to their margin loans that is their source of cash for their house or remodels.
If your stock price drops then the brokerage sells the stock to cover their loan. Which means you can lose a lot of money very quickly if you received the stock as part of an option at a higher market price than the margin call.
My mistake. Redfin only shows Encinitas going up 87% from July 2019 until April 2022.
percent increase from April 2019 to April 2022 is 66% for all properties (1.2 to 2) and SFH’s saw 49% (1.5 to 2.24).
cherry picking months is fun.
Because Hawaii is not a local real estate market anymore
It’s global
I wish it wasn’t, because it’s fucked up and it screws people here over, but it’s only not sustainable to the extent that global capitalism is not sustainable
Everybody complains about the mean disgruntled Hawaiians but if this were the Basque Country or Northern Ireland buses and cafes would be going kaboom every so often, just to keep motherfuckers on their toes
You just get attitude on your vacation
Just got back from the Big Island. A lot of those tourists looked (and acted) like they could've been featured on People of Wal Mart
Umm, Tulips in the 1700's? Oh wait, how'd that work out?
There can't be an unlimited supply of cash to make housing purchases. Is that pool of money depleted yet? Who knows.
Boomers, are dying, and passing down sizable sums to their heirs.
OMG. I lived in that hood, in that model. To say it's 3 bedroom is pushing it. Our house had the biggest lot in the development. We bought in 95 for $190,000, sold in 2004 for $675,000. At that time, was the highest price ever in that hood. We felt bad, but money's money.
Good friend lived in this hood. It was built as a 55+ community. They say 3 bedrooms, that's because the garage has been closed off. LOL, this is a really bad price for this house.
Fun-da-mentalz:
Yes, because a picked flower that will rot and die in less than a week, and provide no other value other than looking pretty for a few days, is a great comparison to a place that provides shelter and is fundamental for living a normal life. LOLZ
So in that sense tulips were more like cryptocurrencies. No underlying real value and provides nothing to actual lives.
Source
I need to remember that line next time a tourist gets their car broken into at Fisherman's Wharf, Coit Tower, GG parking spots, Twin Peaks, etc.
And if it happens to me?
"Obama!!"
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Been like this for a while. Remember the '80s when the Japanese were buying up Hawaii like crazy?
Global capitalism has a long way to go until it evolves into complete oligarchy. And even if it does, the demand for vacation homes in places like Hawaii will remain.